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2016 (3) TMI 292 - HC - Companies LawScheme of Amalgamation - Held that:- The Official Liquidator has filed separate reports both, dated 23.2.2016, in cases of both the Transferor Companies. The reports confirm that the affairs of the Transferor companies are not conducted in a manner prejudicial to the interest of their members or to the public interest. The Official Liquidator has, however, requested this Court to direct the petitioners to preserve their books of accounts, papers and records and not to dispose of the records without the prior permission of the Central Government u/s. 396A of the Companies Act,1956. Having heard Mr. Navin K Pahwa, learned Counsel for the petitioner companies, Mr. Kshitij Amin, learned Central Government Standing Counsel for Mr. Devang Vyas, learned Assistant Solicitor General of India, for the Regional Director and upon perusal of the reports of the Official Liquidator and the Regional Director and having considered the Scheme of Amalgamation together with the relevant documents on record, this Court considers it appropriate to grant sanction to the present Scheme of Amalgamation.
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